Massachusetts is the third most expensive state in the United States to rent a home, requiring a household income of more than $86,000 a year to reasonably afford a modest two-bedroom apartment, according to a new report out Wednesday.
The findings, detailed in the National Low Income Housing Coalition’s annual “Out of Reach” report, put new numbers on a reality that Massachusetts residents have long known: The state is a hub for jobs, education, and innovation. But living here, especially for renters, costs ever more, stretching even moderate earners to the limit.
Related: New Englanders must earn more than $50k to afford average rent, says new report
“It puts numbers to the pain that people are feeling,” said Rachel Heller, CEO of housing advocacy group the Citizens’ Housing and Planning Association. “The rents are so incredibly high — it’s just astounding what a person needs to earn to afford rent here — and all signs point to the fact that we need to do more to address housing affordability.”
Only Hawaii and California are more expensive to rent in, and not by much. Even high-cost states like New York lag behind Massachusetts in that category, according to the report. Greater Boston this year is the sixth most expensive metropolitan area in the United States, only trailing five cities in California.
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